Baker Hughes reported on Friday that the number of oil and gas rigs in the United States increased by 8 this week, bringing the total number of rigs to 448.
During the previous week, the number of US oil and gas rigs increased by 2.
The total number of active oil and gas drilling rigs in the United States is now 74 more than the same period last year.
The number of oil rigs increased by 2 this week, bringing the total number of oil rigs to 344 this week. The number of gas platforms increased from 7 to 103. The number of miscellaneous platforms decreased by 1.
The EIA estimate for US oil production for the week ending April 30 – the latest data available – remained unchanged this week at an average of 10.9 million barrels per day. The EIA estimates that U.S. oil production will hit a modest 11.04 million b / d this year, after falling from the peak production of 13.1 million b / d reached in February 2020, before the pandemic broke. crushes demand for oil.
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The overall number of drilling rigs in Canada also increased this week by 4. Oil and gas rigs in Canada now have 55 active rigs, up 29 per year.
The number of platforms in the Permian Basin increased by 5 this week. At 229 platforms, the Permian’s total platform count is now 31 platforms above what it was at this time last year, but hundreds below the level of it two years ago.
The split split tally provided by Primary Vision shows fracking crews increased for the week ending May 7, after slipping for two straight weeks last week. The frac spread tally is now 221, compared to 45 frac teams in May 2020. The frac spread tally estimates the number of completion teams completing previously drilled wells.
At 9:49 a.m. EDT, WTI was trading down $ 0.31 per barrel on the day to $ 64.40 – but still up about $ 1 per barrel on the week even as India, third largest oil importer in the world, continues to fight against a record number of Covid -19 infections.
The benchmark Brent was trading up $ 0.32 per barrel on the day, at $ 68.41 per barrel.
By Julianne Geiger for OilUSD
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